Algonquin Power & Utilities Corp (NYSE:AQN) Holdings Decreased by Alberta Investment Management Corp

Alberta Investment Management Corp reduced its stake in shares of Algonquin Power & Utilities Corp (NYSE:AQN) by 63.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,600 shares of the utilities provider’s stock after selling 309,400 shares during the quarter. Alberta Investment Management Corp’s holdings in Algonquin Power & Utilities were worth $2,404,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AQN. Spirit of America Management Corp NY bought a new stake in Algonquin Power & Utilities in the first quarter worth about $54,000. Fieldpoint Private Securities LLC raised its position in Algonquin Power & Utilities by 56.7% in the fourth quarter. Fieldpoint Private Securities LLC now owns 4,286 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 1,551 shares in the last quarter. 1832 Asset Management L.P. raised its position in Algonquin Power & Utilities by 87.7% in the fourth quarter. 1832 Asset Management L.P. now owns 5,316 shares of the utilities provider’s stock worth $75,000 after acquiring an additional 2,484 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Algonquin Power & Utilities by 12.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,451 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in Algonquin Power & Utilities in the first quarter worth about $148,000. Hedge funds and other institutional investors own 42.81% of the company’s stock.

NYSE:AQN opened at $13.43 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.91 and a quick ratio of 0.78. Algonquin Power & Utilities Corp has a fifty-two week low of $9.53 and a fifty-two week high of $16.85. The stock’s 50-day moving average is $13.59 and its two-hundred day moving average is $14.17. The stock has a market cap of $6.99 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.35 and a beta of 0.52.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $464.90 million during the quarter, compared to the consensus estimate of $513.53 million. Algonquin Power & Utilities had a net margin of 23.59% and a return on equity of 8.46%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. On average, equities research analysts anticipate that Algonquin Power & Utilities Corp will post 0.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.155 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, June 29th. This represents a $0.62 annualized dividend and a dividend yield of 4.62%. Algonquin Power & Utilities’s payout ratio is presently 88.89%.

Several equities research analysts have commented on AQN shares. TD Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, April 17th. Morgan Stanley dropped their price target on Algonquin Power & Utilities from $16.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price target on Algonquin Power & Utilities from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. TheStreet cut Algonquin Power & Utilities from a “b-” rating to a “c+” rating in a research note on Tuesday, March 24th. Finally, Wells Fargo & Co dropped their price target on Algonquin Power & Utilities from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.84.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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